A rumored internal communication sent out by Steve Wadsworth, President of the Walt Disney Internet Group….
“As you can imagine, given economic conditions, every industry has been impacted on a global scale. In response to this challenging business environment, we have examined ways in which we might be able to work more efficiently. We have taken measures to control costs by freezing most open positions, deferring some capital projects, reducing support from third parties, taking significant reductions in travel and entertainment expenses and eliminating other activities. The elimination of existing positions that we communicated today was a necessary step that we had hoped to avoid. In addition to all of these changes, we have also determined that Directors and above will not be receiving merit increases this year. All of these actions are part of a focused effort to ensure we are closely managing the organization through the current economic climate, balancing our need to respond to the current environment with our goal of driving significant long-term growth.”
I really can’t say I’m surprised to see this happening. Everyone seems to be going through the same situation, no matter how big or small of a pub/dev they are.